As summer approaches, the long spring market that started in February looks to continue the upward price trajectory for a few months yet. More inventory is just starting to come online. New housing starts are up considerably which once this product hits the market and fall approaches we may see more inventory. However, we still have net migration coming to our province which means market conditions will continue to favour the seller. Apartment and townhouse sales are the big story due to affordability and also availability. There is very little inventory for homes priced under $600,000 in the region. With interest rates starting to come down, some current home owners may be able to finally afford and qualify to port their mortgages and make a change in home ownership which will provide some much needed inventory. Overall, sales volumes are average (past 10+ years) and for detached homes, are about 50% less than a couple years ago.
Okotoks continues to thrive and grow. Rural acreage properties are very popular and are looking great with all the recent rain.
What’s your home worth and are you thinking of making a change ? Call me to discuss and make a plan. If you are thinking of selling over the next couple years, now is a great time to have me come by to take summertime pictures to save for the future. There is no cost for me to do this for you.
